Malta-based Binance, the world’s largest crypto asset exchange by adjusted trading volume, has invested in Mars Finance, a Chinese media and data source company.
Although the exact amount invested has not been shared publicly, the company is valued at $200 million, according to a press release shared with Bloomberg.
Beijing-headquartered Mars Finance has also received investments from Ceyuan Ventures and Matrixport, a financial services firm founded by Jihan Wu, the co-founder of Chinese mining giant Bitmain.
Commenting on his company’s strategic investment, Binance CEO Changpeng Zhao remarked:
“We have large respect for data, news and research firms which support the positive growth of the blockchain industry. We will continue to pursue … [more] investment opportunities in our mission to bring crypto further mainstream, increase adoption and accessibility, and help the industry grow sustainably.”
Mars Finance was founded in 2018 by Chinese tech entrepreneur Wang Feng. The media company has previously conducted two other funding rounds, which were led by IDG Capital and the venture arm of crypto exchange OKCoin and Huobi.
According to its official website, Mars Finance provides market insight reports and owns a venture capital fund, Consensus Labs.
Binance’s latest investment has been made at a time when the exchange operator is preparing to onboard US-based clients.
Last week, Binance.US said it would begin registration and deposits on September 18. The company is also planning to introduce various Binance products across the US markets.
